Northrop Grumman Corporation (NOC) Holdings Cut by BT Investment Management Ltd
BT Investment Management Ltd lowered its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 27.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,700 shares of the aerospace company’s stock after selling 21,953 shares during the quarter. BT Investment Management Ltd’s holdings in Northrop Grumman Corporation were worth $16,342,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after purchasing an additional 12,345,491 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Northrop Grumman Corporation by 41,518.7% in the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after purchasing an additional 2,912,953 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Northrop Grumman Corporation in the first quarter valued at $198,691,000. Renaissance Technologies LLC raised its stake in shares of Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock valued at $235,271,000 after purchasing an additional 759,900 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock valued at $3,035,847,000 after purchasing an additional 531,824 shares in the last quarter. 81.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded down $0.11 during mid-day trading on Monday, hitting $301.55. The stock had a trading volume of 16,369 shares, compared to its average volume of 713,303. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $52,512.52, a PE ratio of 22.99, a PEG ratio of 3.03 and a beta of 0.70. Northrop Grumman Corporation has a 12 month low of $220.72 and a 12 month high of $306.61.
Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, topping the consensus estimate of $2.92 by $0.76. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.35 earnings per share. equities research analysts forecast that Northrop Grumman Corporation will post 13.2 earnings per share for the current year.
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A number of brokerages recently commented on NOC. Bank of America Corporation set a $350.00 target price on Northrop Grumman Corporation and gave the company a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus increased their price objective on Northrop Grumman Corporation from $255.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Cowen and Company reiterated a “hold” rating and set a $300.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, October 26th. Goldman Sachs Group, Inc. (The) set a $320.00 price objective on Northrop Grumman Corporation and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Royal Bank Of Canada increased their price objective on Northrop Grumman Corporation from $324.00 to $347.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $290.54.
In related news, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total value of $1,489,289.79. Following the transaction, the vice president now owns 58,186 shares in the company, valued at $17,203,854.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sid Ashworth sold 6,311 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $298.00, for a total value of $1,880,678.00. Following the completion of the transaction, the vice president now owns 63,147 shares in the company, valued at approximately $18,817,806. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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